KAB Inc., a small retail store, had the following results for May. The budgets for June and July are also given. June May actual budget $50,000 July budget $45,000 Sales. $42,000 21.000 25.000 22.500 Less cost of goods sold Gross margin... Less selling and administrative expense 21,000 25,000 22,500 20.000 $1.000 20.000 $5.000 20.000 $ 2.500 Net operating income... Sales are collected 80% in the month of the sale and the balance in the month following the sale. (There are no bad debts. The goods that are sold are purchased in the month prior to sale. Suppliers of the goods are paid in the month following the sale. The "selling and administrative expenses" are paid in the month of the sale. The amount of cash collected during the month of June should be: OA $32,400 $40,000 oc $40,400 OD 548,400